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Just Other Articles - Success in Franchising is Not Always a Business
Many people believe that success in franchising is strictly for businesses and yet th According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product e business model can work for anything. How so you ask? Well let us look at some exam ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug. Examples of combination products may in ples shall we? Consider that the Boys and Girls Clubs of America has an organization lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together. like a franchise system. Did you also know that the Kiwanis Clubs and Rotary Club as here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe well as the Lions Clubs and Optimists Club use an organizational chart resembling a d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations. Combination pro modern day franchise system too? It is true. But why stop there, what about religion ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc ? The Catholic Church is very similar to a franchise system and they have certainly d easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi one well over 1000s of years promoting that religion. In fact many large organized re nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically ligions are indeed built quite similarly as well. What about not so good things? Mos and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ t International Terrorist Organizations are set up like franchise systems too. Why, b ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi ecause this structure allows them to work together and separately in their individual ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it. Following aspects would a markets. For instance Al Qaeda has often been compared to a franchise and in many wa dd to the challenges in developing combination products: Which markets to tap where the combination products can do fairly well? Which combination prod ys you could make that comparison and that is a scary thing considering the power of cts are meaningful and rational? Which therapeutic categories to select? Which Combinations can address unmet needs of the patients? Do combin the franchise model. Of course on a more positive not the United States is one of th tions increase the patient compliance? What would be the developing cost? How to tackle the risks encountered during combination product developmen e best organized franchise systems I have seen. The Franchisor is our Federal Governm t? As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel ent and the States are the Master Franchises of the franchise system and best of all ping new procedures for reviewing their safety, efficacy and quality. Professional from academic institutions, pharmaceutical industries, health care indust it is owned by the shareholders who also happened to be customers; that us the citize y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products ns. It appears in the clash of civilization we have one franchise system VS another. . As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de This is one reason all Americans should support the system and thus prevent the snea elopment. They need to be wiser in analyzing the market trends and the regulatory requirements. Companies that provide selfless information through particip ky bad guys from using the franchise model against us you see? Consider this in 2006. tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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